Pay savings income gross
Posted by mostafa on 6 October, 2015
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This item was filled under Tax
The Low Incomes Tax Reform Group (LITRG) has called for all savings income to be paid without deduction of tax at source when the new personal savings allowance (PSA) is introduced next year. This would automatically give the correct tax due in most cases and reduce administration.
Anthony Thomas, LITRG chairman, said: “If HMRC act on our recommendation, …